ALL YOU NEED TO KNOW - FUND5 VOTING

Governance Project Catalyst
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FUND5 - here we go! $2,125,000 to be distributed in total!

Time to get close and personal with Cardano on-chain governance!

Note: This post is relevant to CASTING VOTES. I will keep updating this information as this rolls in to keep it up to date.

In case you get lost, confused, run into any sort of trouble, follow the links at the end of this post for support.

Where voting registration is possible?

VOTER REGISTRATION FOR FUND5 IS NOW CLOSED! NEXT OPPORTUNITY IS FUND6.

IMPORTANT: If you registered in Fund4 and were able to cast votes - you will be logging into your Catalyst App using Fund4 QR and PIN codes. If you registered again - use the latest QR and PIN codes. This does not apply to Fund2 or Fund3 registrations. If you lost QR or PIN code - you may be out of luck to vote in this round as there is no way to recover these. If app gives you troubles - try to reinstall and re-scan QR codes once live.

What’s the timeline like for Fund5?

  • July 22 , 2021 @ 11:00 UTC - VOTING START
  • August 2, 2021 @ 11:00 UTC - VOTING END
  • ± August 9, 2021 - RESULTS
  • ± week of August 16th - INCENTIVES distribution
  • Note: Fund6 proposal submission is expected to start in mid to late August

How/where to vote?

  1. Catalyst registration & voting guide
  2. Fund5 FAQ

What else to keep in mind?

  • The voting power represents the amount of ada you held and registered at the time of snapshot that took place on July 19, 2021 @ 11am UTC.
    • 500 ada = 500 voting power
    • 5,000 ada = 5,000 voting power
    • 50,000 ada = 50,000 voting power
  • Why is your voting power less than what your wallet shows?
    • Any unclaimed rewards are NOT part of the voting power - hence the difference
    • Also - staking does not prevent from voting and vice versa
  • You can vote for only one proposal, all of them, or anything in between. There are NO limits.
  • You are not spending your ada when voting, nor sending it anywhere. Voting power is a COPY of your real ada.
  • You can vote again, while the voting round is running. Every next changed vote will overwrite the previous one, which means only the last vote is valid. Proposals you already visited will not have a blue border on the right side
  • Your vote can be:
    • YES vote (positive), NO vote (negative), or ABSTAIN (you take no action)
    • You can change your mind and adjust your votes whenever until the deadline
    • Once you vote YES or NO - you cannot presently revert back to ABSTAIN and will be asked to choose one of the two only options only
    • Every time you vote - ALL your voting power is applied to any proposal you choose (think about firing a gun - how powerful the shot is - not number of bullets in it)
      • If your voting power is 500 ada and you vote YES - 500 ada is added to the positive vote
      • If your voting power is 500 ada and you vote NO - 500 ada is added to the negative vote
      • If your voting power is 500 ada and you do not choose to vote - nothing happens
      • Your voting power does NOT deduct when you cast votes. It always stays the same!
    • Proposal can be considered for funding only in such case that it receives at least 15% or more YES votes than NO votes
    • Top voted proposals get funded based on fund availability until there isn’t enough votes to fund any next proposal in the amount they’ve asked for
  • During this time, there are no transaction fees incurred to cast your votes
    • Vote is done on a side chain Jorgumandr, not a main net
    • You cannot check progress of vote as it unfolds in the current format

Voter Rewards

  • $297,500 in ada to be distributed to all participating voting power (relative to individual ada holdings)
    • Amount of distribution is per ada not per wallet - and won’t be known until all registration of voting power is complete
  • Fund5 Reward distribution is expected in mid August back to your registered wallet in the same format as your staking rewards (not as a separate transaction)
  • Your wallet MUST be staked in order to receive voter rewards by the time of rewards distribution the latest.
  • Whether you vote for one or all proposals - it has no effect on how much rewards you’d be getting as rewards are based on your voting power solely
  • Once voting power is verified - will provide you with rewards calculator to estimate these
  • Unsure about previous Fund4 rewards and how to see them? Check this post instead.

What will you be voting on in this Fund5 round?

Catalyst App is now being loaded with all the data necessary for you to start voting. You will have 10 days to cast your votes. It is important to take your time and understand your voting choices as that determines future direction of Cardano ecosystem.

This can be an intimidating task - knowing there are so many proposals out there that are competing for your attention and votes. One of the easiest ways how to start browsing is via this community made voter tool that enables you just that. Give it a try.

Note: each proposal has a ranking in form of 1 to 5 stars added to it. This rating represents the outcome of Community Advisor (CA) review of all proposals. CAs were asked to review each proposal and give it a ranking/scoring in three distinct categories - IMPACT, AUDITABILITY, FEASIBILITY - on the following scale:

  • (1) I strongly disagree
  • (2) I disagree
  • (3) I neither agree nor disagree
  • (4) I agree
  • (5) I strongly agree

This score was then averaged from each of the three categories into one final score now visible inside the app from all valid participating CAs. Do keep in mind that these are guidelines and you are free to choose proposals based on your own understanding and research. Consider this as a useful tool in assisting your voter decision. You can learn about this in greater detail via Community Advisor Guidelines.

Funding Categories/Themes

dApp Creation & Integrations

  • 81 proposals trying to identify what dApps should be built to drive user adoption
  • Browse Projects: Community

Developer Ecosystem

  • 47 proposals exploring: How to encourage developers to build dApps on top of Cardano
  • Browse Projects: Community

Distributed Decision Making

  • 14 proposals exploring: How can we help the Catalyst community to get better at distributed decision making within the next two Catalyst rounds?
  • Browse Projects: Community

Proposer Outreach

  • 19 proposals exploring: How can we encourage entrepreneurs from outside the Cardano ecosystem to submit proposals to Catalyst in the next two funds?
  • Browse Projects: Community

Catalyst Value Onboarding

  • 19 proposals exploring: How can we encourage more meaningful participation in Project Catalyst from community members in the next two funds?
  • Browse Projects: Community

Metadata Challenge

  • 25 proposals exploring: How can we utilize transaction metadata to solve real world problems?
  • Browse Projects: Community

Grow Africa, Grow Cardano

  • 27 proposals exploring: How do we seed and grow Cardano in Africa?
  • Browse Projects: Community

Scale UP Cardano’s DeFi Ecosystem

  • 21 proposals exploring: How can we encourage DeFi team to build/deploy open finance solutions on Cardano in the next 6 months?
  • Browse Projects: Community

Cardano Community Choice for Fund7 will be active in Fund6 already - CHANGED

  • 23 challenges suggested to get launched during Fund6 in order to fulfil Cardano’s mission
  • Browse Proposals: Community
  • Note: these are NOT proposals for actual projects - but rather community driven choices of themes that anyone can submit actual proposals for during Fund6
    • This allows Cardano community to vote on direction of fund dispersion
    • If you come across an actual project proposal - this challenge is NOT intended for such purpose

Get in touch

Have questions or any doubts? Comment below or DM me directly via twitter or telegram - I’ll get back to you as soon as possible!

Danny

Where to find Project Catalyst?

:mega: Announcements only: Telegram: Contact @cardanocatalyst

:e-mail: Subscribe to the mailing list: IOHK

:movie_camera: Rewatch past town-halls: https://bit.ly/2UxT9Uv
:bulb: Browse insights, ideas, and proposals: http://cardano.ideascale.com
:speech_balloon: Join main Telegram group: Telegram: Contact @ProjectCatalystChat
:stadium: Go deeper with Catalyst Discord: Cardano Project Catalyst
:nerd_face: Become Community Advisor/Mentor: Telegram: Contact @CatalystCommunityAdvisors
:woman_scientist: Join Proposal Owners: Telegram: Contact @catalystproposers
:bug: Help find bugs & test: Telegram: Contact @catalystdryruns
:gear: Get lost in data: Project Catalyst Dashboard - Cardano Governance - by Daniel Ribar - Google Sheets
:tada: See all funded proposals at glance: Miro | Online Whiteboard for Visual Collaboration

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